The Travel Insurance Act establishes a comprehensive legal framework for the sale of travel insurance in New Jersey, ensuring that policies are applicable to residents and sold within the state. The Act clarifies that it does not cover cancellation fee waivers or travel assistance services unless explicitly stated, while existing insurance laws remain applicable, with the provisions of this Act taking precedence over conflicting general laws. Key definitions are introduced, including "travel insurance," "travel assistance services," and "eligible group," which outlines the entities eligible for blanket travel insurance policies. The Act also sets forth licensing requirements for limited lines travel insurance producers and travel retailers, emphasizing consumer protection through clear disclosures and documentation prior to purchase.

Additionally, the Act mandates that travel insurance policies disclose information about pre-existing condition exclusions and requires prompt delivery of fulfillment materials to policyholders, along with a specified cancellation period for full refunds. It prohibits negative options in the sale of travel insurance and deems marketing blanket travel insurance as free an unfair trade practice. The bill also outlines qualifications for travel administrators and classifies travel insurance under an inland marine line of insurance, with the Commissioner authorized to adopt regulations for implementation. Overall, the Travel Insurance Act aims to enhance consumer protections and provide clearer guidelines for the travel insurance market in New Jersey.